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September 10, 2009

The war with China just got hot

The trade war with China just got hot. Tariffs were just slapped on Chinese steel pipe.

The U.S. Commerce Department said on Wednesday it had imposed preliminary duties ranging from 10.90 percent to 30.69 percent on $2.6 billion of steel pipe from China used to transport oil...
The markets are already distorting as I type this. US Steel is up over a buck. Nucor is up over a buck. Even Arcelor Mittal is up $.30 even though its foreign based.

Financial Disclosure: I currently own 1400 shares of US Steel


digg this
posted by Purp at 01:43 PM

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